Flow cytometry market revenues are pegged for a revival in 2021, with a new study projecting revenues to expand at over 11.5% through 2021.
Flow cytometry market revenues are pegged for a revival in 2021, with a new study projecting revenues to expand at over 11.5% through 2021. Growing adoption of flow cytometry in the field of cell biology is likely to steer the market to over US$ 8 Bn in revenues by 2025. Growth is further accelerated by growing availability of new application-specific flow cytometry products and high incidence and prevalence of cancer and HIV-AIDS. Fact.MR, a global research & consulting firm, in the updated edition of the report, states an impressive growth rate amid the forecast period 2020-2025.
“Simultaneous and rapid measurement along with property identification on cell to cell basis is one of the key aspects responsible for surging applications of flow cytometer. Demand is snowballing rapidly as the outcome are accessible in visual presentation, which makes it simpler for the healthcare professionals as well as researchers to get the essential insights quickly.”, says Fact.MR.
Increased Healthcare Expenditure Influence Demand for Flow Cytometry
Widespread R&D for the expansion of statistical platforms that are proficient of manipulating several parameters, equate all data parameters with several diverse combinations, modify data analysis strategy, offer graphs and figures with conclusions and identify real-time changes in every parameter will contribute to the product demand further.
Additionally, increased healthcare expenditure and growing awareness shall have an optimistic impact on the flow cytometry industry. A few of the extensive applications of flow cytometry are cell sorting, immunophenotyping, intracellular calcium flux, and cell proliferation assays. The benefits of the technology, for instance, user-friendliness, are further anticipated to encourage its demand further, according to the Fact.MR study.
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Pharmaceuticals & Drug Discovery to Remain at Forefront
Tremendous prospects for the flow cytometry is anticipated to be offered by pharmaceuticals & drug discovery segment. This is mainly due to the flow cytometry application in characterization of new drugs and progress of highly effective therapeutic medication. Forecasts specify that pharmaceuticals & drug discovery shall account for a market share of over two-fifth of the entire global flow cytometry industry.
On the other hand, the diagnostics segment is likely to be leveraged in the foreseeable future. Augmented demand and augmented diagnostics of immunological ailments such as HIV/AIDS shall invigorate the market. The projected CAGR for the diagnostics segment is around an astounding 15.5% in 2021.
China & India Promise Healthy Growth Prospects for Flow Cytometry
The US will spearhead the flow cytometry owing to factors such as the rise in several common cancers such as lung cancer, breast cancer, rectum and colon cancer, prostate cancer, skin cancer, and bladder cancer. The region is anticipated to capture around 33% of the overall share.
France and Germany is anticipated to account for second biggest share owing to constant progressions in the flow cytometry technology ensuing into growing applications of flow cytometer in Western European nations.
China, Japan, India, South Korea, and Australia offers a strong growth trajectory 2021 and beyond. Enhanced healthcare infrastructure and amplified focus on big companies will encourage the region’s growth. Additionally, increased rates of immunological and hematological ailments are contributing the regions growth.
Constant Product Development Remain Major Key Areas: Fact.MR Survey
Flow Cytometry market is highly consolidated owing to the presence of handful players in the market. Fact.MR’s survey with thought leaders discovered that product development and the rise in R&D activities will remain a significant strategy for market players in 2021 & beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. A few of the players profiled in the report are Merck & Co., Inc., Becton Dickinson & Company., Beckman Coulter, Inc., SYSMEX CORPORATION, Thermo Fisher Scientific Inc., Alere Inc., Bio-Techne, Miltenyi Biotec, Bio-Rad Laboratories, Inc., &Agilent Technologies Inc. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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